$BTC/USD 1M (Bitfinex) Bullish fractal from 2017
Updated
Let me bring you some bullish scenario that almost everybody is ignoring for #Bitcoin on monthly chart.
Of course February could be bloody, but since most people is expecting a big dump I guess probability that it happens are not that high!
This does not mean you have to long hard at that point, but you surely should hold on to your BTC for now.
If we lose the 29-30k support then I may short but the safer thing to do would be buying the dips... 👌🏼
Of course February could be bloody, but since most people is expecting a big dump I guess probability that it happens are not that high!
This does not mean you have to long hard at that point, but you surely should hold on to your BTC for now.
If we lose the 29-30k support then I may short but the safer thing to do would be buying the dips... 👌🏼
Trade closed: target reached
+72.37% max profit since calledYou can see clearly why next month is likely to be a losing month for #Bitcoin.
Maybe even retesting 40k or 36k to long squeeze before bullish continuation.
So you'd rather let some buy orders in Spot down there to catch a lucky wick!
(Or "scam wick", it depends on how you take advantage of it or not)
In the meantime, no need to panic, altcoin market is at its best when BTC is ranging
Note
Who would have known this was the TA of the year?! 🙈Note
20EMA is a must hold since it was crossed down only three times: 1) September 2014 leading to -60% 3 months later
2) November 2018 leading to -51% 1 month later
3) March 2019 leading to -46% 2 weeks later
But, and this is a big BUT, it was always 10-8 months after the previous ATH.
So if we are in a bear market already, I would not expect 20k before March-June 2022...
If we are still in a bullish trend then we definitely need to make a new ATH before end of year (2021)!
Note
I just check back that monthly chart after a while and this is quite worrisome to be honestI was expecting another bull wave all this time aiming for 150k but did not happen as we all know now.
Let's be realistic here, that rejection on top was a big "not this cycle" and that's why we went back down to 20EMA.
A deadcat bounce saved our ass so far but if you want my opinion we won't see a new ATH until a few years.
Losing support and revisiting 20k seems very much in the table, even timeline seems to match!
Don't want to FUD you guys but this is probably the best moment to exit the market, at least partially...
I am building big Gold & Fiat bags in order not to face max pain and huge suffering in the coming months
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